Searches such as "sell silver rate", "sell silver price" and "sell silver price today" total more than 8,000 a month worldwide, according to Ubersuggest, with "sell silver rate" at about 3,600, "sell silver price" at about 2,900 and "sell silver price today" at about 1,900. People searching them do not want a price list that will be wrong by tomorrow. They want to know whether the number they have been offered is fair. This guide gives a method you can apply to any silver, with the arithmetic shown, so you can check a quote without relying on a calculator you cannot see. It does not give a silver price, because a figure printed here would be out of date within hours. It is part of our guide to selling gold, silver and scrap jewelry worldwide. ScrapTrade runs a scrap marketplace and has a commercial interest in the scrap trade.
The four numbers
Every silver valuation uses four numbers:
- The weight of the item, in grams, on a scale you trust.
- The fineness, the parts per thousand of pure silver, read from the mark: 925 for sterling, 999 for fine silver, 800 for continental, and so on. Our guide to sterling silver and scrap lists the marks.
- The spot price, the market price of fine silver per troy ounce, from a dated live source.
- The buyer's payout, the share of the melt value the buyer will pay, which is what you negotiate.
The method, step by step
First, work out the fine silver weight: weight times fineness divided by 1,000. A 100 gram item marked 925 holds 92.5 grams of fine silver. A 100 gram item marked 800 holds 80 grams, and one marked 999 holds 99.9 grams.
Second, convert to troy ounces, because spot is quoted per troy ounce. A troy ounce is about 31.1 grams, so divide the fine silver weight in grams by 31.1. In the example, 92.5 grams is about 2.97 troy ounces.
Third, multiply by the spot price, in the currency you want, from a source that shows its date and time. The result is the melt value. If a calculator shows a number that does not match this arithmetic on the same spot price, ask why.
Fourth, compare the quote with the melt value. A quote below melt is the buyer's margin plus the cost of refining and handling. How large a margin is reasonable is the question we cannot answer for silver, because we found no source for the payout percentages silver buyers use. The dealer pages we found quote gold payouts and not silver ones, and published ranges are marketing. So compare at least two quotes, and ask each buyer for the weight, the fineness assumed and the percentage of spot they are paying.
Coins use a different shortcut
Dealers price junk silver coins by face value. For 90 percent United States coins, a dollar of face value is commonly taken as about 0.715 troy ounces of silver to allow for wear, with 0.7234 as minted, according to the dealer pages we found. A 1965 to 1970 Kennedy half dollar holds about 0.148 troy ounces. Our guide to silver coins and junk silver lists the main categories. Collector coins are priced on rarity, so melt arithmetic is only a floor for them.
Why quotes differ from the number you saw online
- Spot moves. A quote is good for a short time, and a price you read in the morning may not hold in the afternoon.
- Bid and ask differ. Spot is a mid-market figure, and dealers buy below it and sell above it.
- Currency. Spot is quoted in US dollars and converted, so exchange rates move the local price too.
- Content may differ from the mark. A buyer who tests an item and finds lower fineness will quote on the tested content.
- Premiums apply to products, not to scrap. Bars and mint coins can sell above or below their silver content depending on demand, and scrap does not carry that.
- Deductions. Stones, filled handles and weighted bases are deducted from the weight.
Checking a quote: a short list
- Ask for the weight the buyer measured and compare it with yours.
- Ask for the fineness assumed and how it was tested.
- Ask for the spot price used and when it was taken, and check it against a dated live source.
- Ask for the payout as a percentage of melt value.
- Ask what deductions or fees apply, and when you are paid.
- Get a second quote before you decide.
Where ScrapTrade fits
The method above is how a trade buyer prices a lot, which is why a listing that states weights, fineness marks and photographs is easier to bid on. ScrapTrade is a trade marketplace with precious metals among its categories and verified traders in more than 50 countries. Listing is free with no commission. You negotiate in real time, and the buyer's 5 percent deposit is held in escrow once you accept a bid. Both businesses and individuals can sell after verification. The platform does not set prices or value your silver for you, and we do not know how buyers assay mixed lots on it, so ask cs@scraptrade.com.au if testing matters to your lot. For a single item, a local buyer who tests it in front of you is usually simpler.
What we could not verify
- The current silver price. We deliberately give none.
- The payout percentages silver buyers use. We found no reliable source.
- The exact face-value convention for coins outside the United States.
- How ScrapTrade buyers assay mixed silver.
Frequently asked questions
How do I calculate the value of my silver?
Multiply the weight by the fineness divided by 1,000 to get fine silver in grams, divide by 31.1 for troy ounces and multiply by a dated spot price.
How many troy ounces are in 100 grams of sterling silver?
About 2.97, because 100 grams of 925 silver holds 92.5 grams of fine silver.
Why is a dealer's quote lower than the spot price?
The dealer pays a share of the melt value to cover its costs and risk, and handling and refining are part of that.
What is a fair percentage of spot to accept?
We cannot say, because we found no reliable source for silver. Compare at least two quotes.
Sources
- Ubersuggest keyword data, global, queried November 2026.
- Silver fineness and hallmark guides; dealer pages on junk silver content, as summarised in search results.
- ScrapTrade website, accessed November 2026.
General information only, not financial advice. No price is given because silver moves daily. ScrapTrade is a scrap marketplace.